Project Financing Summary: Risen Energy Secures Credit Line for 103 MW Solar Project

Project Financing Summary: Risen Energy Secures Credit Line for 103 MW Solar Project

• By Staff Writer

Project Financing Summary: Risen Energy Secures Credit Line for 103 MW Solar Project

Nelnet Renewable Energy, a subsidiary of Nelnet, announced the closing of its first solar tax equity co-investor fund for 2021. Nelnet teamed up with six banks to invest $11.9 million in a portfolio of solar projects in Rhode Island and New York. Joining Nelnet in this investment are Elkhorn Valley Bank & Trust; First State Bank, Gothenburg, Nebraska; Security First Bank (Nebraska); and three other banks. The portfolio of projects financed by this co-investment is expected to generate over 20,000 MWh of solar energy in a year for a group of community solar subscribers in New York and Rhode Island. Finnish firm Fortum has signed an agreement to sell the 250 MW Pavagada II and the 250 MW Rajasthan solar projects in India to Actis, a global infrastructure investment firm. The total consideration from the divestment on a debt and cash-free basis, including the effect of the deconsolidation of the net debt, is expected to be approximately €280 million (~$333 million), most of which will be recorded during 2021. The divestment is expected to positively impact around €20 million (~$23.78 million) on the City Solutions segment’s results. The City Solutions segment at Fortum comprises heating and cooling, waste-to-energy, biomass, and other circular economy solutions.

Thailand-based glass manufacturer Bangkok Container Glass has completed the acquisition of 100% shares in Solar Power Management (Thailand), a company holding a 67% shareholding interest in Phu Khanh Solar Power Joint Stock Company. This organization operates two solar projects in Phu Yen Province, Vietnam, with a total installed capacity of 99.21 MW. The deal had a transaction value of THB1,259 million (~$41 million) from Eternity Power.

United Natural Foods, Inc. (UNFI), North America’s food wholesaler, announced that in collaboration with the solar project developer Pine Gates Renewables and the U.S. Bank is investing in Trent River Solar, a 108.5 MW solar project located in Jones County, North Carolina. UNFI will not acquire the energy created at Trent River nor the renewable energy certificates. The solar project will support 300 local and regional jobs and is expected to be completed and placed in service later this month.

Disclaimer:-  As every caution has been taken to provide our readers with the most accurate information and honest analysis. Please check the pros and cons of the same before making any decision on the basis of the shared details.

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